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Silver prices in the local market declined over the past week, weighed down by lower global prices, profit-taking activity, a stronger U.S. dollar, and easing geopolitical tensions, according to a report issued by the Safe Haven Center.

The report noted that 999-purity silver lost around EGP 20 per gram over the week, opening at EGP 170 and closing at EGP 150.

Globally, silver prices also retreated, with the ounce falling by approximately USD 7, starting the week at USD 85 and ending near USD 78 on international exchanges.

Locally, 925-purity silver was priced at around EGP 139 per gram, while 800-purity silver stood near EGP 120. Meanwhile, the price of a silver pound stabilized at EGP 1,112.

Global Selling Pressure and Cautious Return of Demand

The report highlighted that silver faced selling pressure in global markets, though lower prices helped attract renewed demand amid a cautious shift back toward safe-haven assets and fresh speculation about a more accommodative U.S. monetary policy in the coming period.

Growing risk aversion across global markets has supported demand for precious metals, as investors closely monitor geopolitical developments and sensitive diplomatic talks involving the United States.

In addition, signs of weakness in the U.S. labor market have strengthened expectations of potential interest rate cuts by the Federal Reserve, a factor that typically supports non-yielding assets such as silver.